Five9 CEO says shareholders rejected Zoom acquisition because the offer ‘wasn’t going to cut it’

[02-10-2021 11:13 AM]

Ammon News - Five9 shareholders rejected Zoom’s acquisition because the offer did not appropriately value the cloud contact center software company, Five9′s chief executive said Friday.

Five9′s CEO Rowan Trollope appeared on CNBC’s “Mad Money” after the deal with Zoom worth $14.7 billion failed.

“We had to ultimately let the shareholders vote and they made it clear that ... the offer from Zoom wasn’t going to cut it,” Trollope said.

The all-stock agreement announced in July would have been one of the largest tech deals of the year. Zoom’s stock has struggled this year, down more than 50% from its highs notched in October 2020.

“There’s no acrimony. It is what it is,” Trollope said about Five9′s relationship with Zoom moving forward. “We are parting ways amicably.”

The press release announcing the deal termination said, “Zoom and Five9 will continue the partnership that was in place prior to the announcement, which includes support for integrations between their respective Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) solutions and joint go-to-market efforts.”

Five9′s chief executive reiterated the two companies will continue to collaborate.

“We will partner with them and look forward to, of course operating, independently,” Trollope said.


  • no comments

All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.
name : *
show email
comment : *
Verification code : Refresh
write code :